Senior Pensions Relationship Management Consultant

Financial Services Regulatory Authority (FSRA)•Toronto, ON

6d•CA$88,496 - CA$128,625•Onsite

About The Position

At FSRA, our vision is to ensure financial safety, fairness, and choice for Ontarians. As a financial services regulator, we’re passionate about protecting consumers. Our principles-based approach means we can quickly and effectively respond to the changing needs of consumers and the industry. Our team combines industry expertise with commitment to public service. We attract individuals who are interested in meaningful work and who measure success through outcomes, not inputs. At FSRA, we invest in the personal and professional growth of our team. We offer a competitive compensation package that includes an employer-matched defined benefit pension plan, and a comprehensive and competitive benefits plan. We prioritize learning and development, wellbeing, diversity, equity, inclusion and belonging, and community giving. Join FSRA and help us shape the future of regulation for generations to come! This Posting is for One (1) Regular Full Time, and One (1) Fixed Term Full Time 12-Month Contract Role. PURPOSE OF POSITION: Accountable for providing leadership and guidance to a team contributing to and implementing relationship management strategies for Ontario registered pension plans. Management of a diverse portfolio of pension plans, assessing a plan’s compliance, administrative, governance and risk mgt practices. Accountable for meeting FSRA’s corporate service standards and Pensions’ objects of protecting the pension benefits and rights of plan beneficiaries and ensuring pension plans are well administered. This position focuses on the asset transfer, plan wind-up and surplus related applications and projects.

Requirements

Degree in business, finance, actuarial science, accounting, auditing, mathematics, or a related field or a professional designation.
Minimum of 7–10 years pension-related industry experience with understanding of the financial, actuarial, and operational aspects of pension plans to provide a holistic approach to issues analysis and management.
Experience in risk management and pension regulatory review principles and methods used for conducting reviews of pension plan administration.
Experience in managing pension plans in distress, companies in financial difficulty or similar recovery and restructuring situations and PBGF claims.
Demonstrated knowledge of structures, operations, programs and products of the financial services sectors.
Experience in effective stakeholder management (management and employee/labour groups) with diverse and conflicting mandates and objectives; excellence in negotiation to mutually beneficial outcomes.
Demonstrated knowledge of pension plan administration principles and processes, pension governance and pension risk management to provide technical advice and guidance on pension plan regulation and compliance matters.
Demonstrated knowledge of the Pension Benefits Act and regulations and pension legislation of the federal government and other provincial jurisdictions to provide senior level expertise on the interpretation and application of legislation/regulations.
Demonstrated knowledge of general pension industry and pension plan regulation and design issues and trends to identify opportunities for updating or changing FSRA Pensions guidance/approach documents.
General knowledge of the concept of principles-based regulation and how these will apply as FSRA Pensions transitions to becoming a principles-based regulator.
Proven skills and ability to drive and champion change for new approaches, best practices, systems and standards for a proactive and collaborative approach to engaging with stakeholders.
Proven analytical and problem-solving skills to identify issues/trends and develop solutions related to the regulation of the pension industry; and analyzing contentious/significant compliance issues
Proven project management and technical leadership skills to provide leadership to assigned strategic initiatives and projects.
Proven skills and ability to work collaboratively in a matrixed environment.
Proven oral and written communications, interpersonal and influencing skills to provide technical expertise, advice and training and to develop and deliver a range of range of technical reports, regulatory guidance materials and procedures.

Responsibilities

Provides leadership and expertise to engage a diverse group of pension plans (i.e., different plan types and different benefit structures).
Formulates strategies, tactics, and approaches to identify and resolve plan administration and governance issues.
Leads engagements with plan administrators, plan sponsors, plan beneficiaries and unions and their respective consultants, actuaries, and lawyers.
Works with pension stakeholders (i.e. plan administrators, plan sponsors, plan beneficiaries and unions and their respective consultants, actuaries, and lawyers) to resolve identified issues, ensuring the protection of pension plan beneficiaries and promoting the good administration of pension plans.
Provides expert advice on Ontario’s pension legislative framework and FSRA’s Pensions Guidance and policies.
Protects the benefits of plan beneficiaries through the identification of plan specific risks, including poor plan administration practices and governance factors.
Identifies emerging trends and risks in pension plans as well as across the pension sector.
Conducts analysis and prepares reports to support the review of applications of asset transfers, surplus sharing agreements and wind ups and the development of FSRA processes, policies and guidance.
Challenges and encourages pension plan sponsors and administrators to adopt appropriate plan administration, governance and risk management best practices.
Leads and participates in strategic initiatives and projects, including the conceptualization, development and implementation of the initiative.
Provides leadership and peer review to junior team members within Pensions.
Work collaboratively with teams across Pensions, including multi-disciplinary project teams.
Exercises and implements the appropriate FSRA statutory and regulatory powers in order to improve outcomes for pension plan beneficiaries.
Leads the team in the review and evaluation of pension legislation, pension policies and guidelines for the regulation of pension plans registered with FSRA.
Coordinates recommendations and suggestions for implementation for the review of senior management.
Prepares reports for senior management.